St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-04-19
YESTERDAYS MARKET.
On the Chicago Board of Trade, There
Was Very Active Trading
in Wheat.
Rather Large offerings of the Cereal
Brought About Sharp Decline
in Prices.
Uncertainty and Nervousness which
May Soon Become n Big
Panic.
Transactions In the Financial Cir
cIes of Wall Street--General
Quotations.
Special 70 the Globe.


CHICAGO, April 1S.-There was no room for
cavil over the rainfalls of Sunday and Satur-
day night through the West and Southwest.
rue blue chalk rain mark of the signal SER
$sce officer tinged the whole of the weather
blackboard. The rain was not of the uncer-
tain sort either, that could be explained away
or beittled by the weather bulls. May wheat
started ut sac. The gueSSeS on the visible
supply had little effect on the market. Those
best posted looked for a decrease OF over
I,000,0 900 bushels, but this was not nearly
equal to the decrease for the same week u
year ago and was not bull circumstance. Ii
Sas ten o'clock before the market here got
the benefit of those Southwestern and West
ern rains. When the ''tailers" saw that st.
Louis had broken 1@11sc per bushei at the
very opening down there, timid bulls here be-
gan to sell. One nervous fellow followed an
other until at 1880 there was
A TROOP OF THEM
tumbling over each other to get rid of long
wheat. The clique houses were giving no
support to The market, so there was nothing
TO stay the alarm. From $40 May wheat
dropped to S22sc, with scarcely stopping
place anywhere. 1t was long while before
the crowd could decide whether the drop OF &c
in May wheat was collapse or "shake up"
Kershaw IL Co. and Irwin, Green Co. were
very large sellarS AT the opening, and the
early estimates were that kerShaw q 20.
alone sold 1000. 600 bu of wheat. This figure
was cut in the middle by noon, and by
o'clock there were those who doubted whether
the clique had not pulled up almost as much
grain as it had seed. Lathrop, Smith y Oil
phant were very alge sellers and 1t was the
belief early that they had thrown over l,0uu,-
000 bu upon Leopold Bloom. An hour after
the break when the market had recovered
cent and when May stood safely above S3c
again, those who were certain early that the
wheat deal was of confessed to CONVEX
sion. They sadly admitted that it, after all,
looked less like ''sell out" than "shake
out As one bull expressed it. ''too many
children had gotten into the line"
THE ROUTINE REPORT.
CHICAGO, April 1S.-There was very ac-
tive trade in wheat to-day, accompanied by
sharp decline in prices. The offerings were
very large and came ostensibly from the bull
clique. The feeling was very uncertain and
nervous. The report of rainStorms through
the winter wheat belt created au easy feeling.
but the market appeared to hang very largely
upon the course Of the recognized ''bull lead
erS.' The decrease of 1,34O,000 bushels in
the visible subbly was somewhat larger tran
had been expected and had sustaining IN
tiuence on values for short time. The
clearingS from the seaboard were large. az:
gregating $4,000 bushels, while the receipts
at twelve points were 245,000 bushels. The
visible supply of corn showed slight de-
crease and the receipts were light, but the
market was easier in sympathy. The price
Of May dropped to 3S15@3S5sc, or u define of
5sc from Saturdays closing prices, and closed
for the day ut 3S34c. Oats were dull and
heavy and closed 4@3sc lower. Pork was
nomiually unchanged. Lard was a shade
easier and closed sc lower. Short ribs closed
loo lower.
THE QUOTATIONS..
The leading futures ranged as follows:
Wheat-No. 2. April, opened at S21ac, clos
ing at S114@S13Sc; May, SIC, closing at S234@
S25sc: June, Size, closing at S1H@Slasc:
July, S17sc, closing at S1A@S13sc. Corn-No.
2, April, 3Ts4c, closing al 31$4c: May, 39c,
closing ut 3Ss4c; June, 4O1sc, closing at 4O1sc:
July, 411Ic closing at 4I1ac. Oats-No. 2,
April, 295gc, closing at 2T5ac; May, 2S34c. clos
ing at 2S3sc; June, 2914c closing at 2914c;
July, 291ac. closing at 2914c. Mess pork,
per barrel-Apr. S20.65, closing at $1,000;
May, $20.75, closing at 20.75; June. $20.75,
closing at S2075. Lard, per 100 pounds-April,
$3.50, closing at S..25; May, $7.35, closing
at $3.50; June, $40, closing at $40; July.
S7.50, closing at $3.50. Short ribs, per
100 pounds-April, SS.15, closing at $50.
May, $500 closing at So Is; June. $50, clos
ing at SS.25; July, SIS 40, closing at $3.50.
Cash quotations were as follows: Flour dull
and unchanged. Wheat--No. 2 spring, $40
s1$sc; No. spring, 1S@75c; No. 2 red, sl14@
$3.50. Corn--No. =. 31s403S5sc. Oats-No. 2.
215s@2S1sc. Rye-No. =, 561ac. Barley-No.2 2,
5S@60c. Flax Seed-No. l, Sl.05. Timothy Seed
Prime, S1.6T@l6S. Mess pork. per biol,
s20.50. Lard, per 100 lbs, S7.25. Short
ribs sides, loose, $50; dry sailed shoul-
ders, boxed. S6.10@625; short clear sides,
boxed, SS.55QS.G0 Whisky, distillers' fin
shed goods, per gal, Sl.1S. Sugars, cut
oaf, 614@65sc; granulated, 61ac; standard
A 5lsc. Receipts-Flour, 11,O00 bbls;
wheat, $4,000 bu: corn, $4,000 blu: oats,
$4,000 bu; rye.s LOCO bu: barley, 5000 bu.
5hipments-Flour, 1000 bbls; wheat, 1000 blu;
corn. $4,000 blu: oats, $4,000 bu: rye. 5000 blu;
barley, 12.G00 bu. On the produce exchange
o-day the butter market was very slow;
:reamery, 1Sy23c per 10; dairy, 1S@22c.
Eotcs oCGI0lIc